Appraisal Consultants, Inc.Appraisal Consultants, Inc. is Indiana state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-loan, be sure to hire Appraisal Consultants, Inc., as we are approved and certified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Appraisal Consultants, Inc. is well-trained on how to follow the rules and regulations provided.
If your home loan is FHA insured, that means that it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers. Rather, it provides lending agencies with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not. Remember that the lender working with the the Federal Housing Administration is permitted to select which appraisers they work with, unlike the VA appraisal panel.Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the FHA offers are incredibly helpful to consumers with minimal starting income.